Par Pacific Q2 revenue, adjusted net income ease past estimates

Par Pacific Holdings

04/08/2026 22:03

Overview
U.S. energy refiner's Q2 revenue beat analyst expectations
Adjusted EPS and adjusted net income for Q2 beat analyst expectations
Company completed $500 mln senior notes offering, reducing term debt by over $130 mln

Outlook
Company expects to benefit from favorable margin environment after completing annual turnaround maintenance
Company anticipates reversal of working capital outflows as commodity prices normalize and Hawaii inventory returns to typical levels

Result Drivers
REFINING MARGINS - Higher adjusted gross margins, especially in Hawaii, drove results as market indices improved and price lag effects were favorable
OPERATIONAL EXECUTION - CEO said results reflected strong operational and commercial execution, with turnaround maintenance substantially complete

Company press release: ID:nGNX66Pjkk

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$2.97 bln
$2.39 bln (6 Analysts)
Q2 Adjusted EPS
Beat
$10.10
$8.01 (7 Analysts)
Q2 EPS
 
$9.35
 
Q2 Adjusted Net Income
Beat
$499.20 mln
$387.05 mln (5 Analysts)
Q2 Net Income
 
$462.94 mln
 
Q2 Adjusted EBITDA
Beat
$571.26 mln
$482.86 mln (7 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas refining and marketing peer group is "buy"
Wall Street's median 12-month price target for Par Pacific Holdings Inc is $80.00, about 3.5% below its August 3 closing price of $82.87
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago

Reuters Recommended Reads
Aug 4 - Marathon Petroleum's profits surge on big refining margin boost
Aug 4 - BP Q2 profit beats on refining margins boost
Aug 3 - S-Oil sees firm third-quarter refining margins on summer demand, export curbs

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)